As a Realtor of nine years, I gotta let you in on a dirty, little secret -- Holiday time is the best time to sell or buy a house! Think I've flipped my wig? Let me explain.
A huge number of sellers remove their properties from the Multiple Listing Service during November and December. They assume most potential buyers are waylaid in department stores and holiday gatherings. Realtors encourage this train of thought so they can be free to enjoy their Xmas vacations in warm, sunny climates without having to worry about cranky sellers calling to ask why their property hasn't sold.
The dirty, little secret is that any seller who keeps their property on the market November through January runs a darn good chance of selling it! Why? Because of that basic economic mantra that scarcity creates demand.
Think about it. Who but the most serious buyer would brave the sleet and snow, not to mention freezing temperatures -- okay, right now it's in the 40s, but you get my drift (ha, ha) -- to pursue the American Dream of home ownership? Yes, Virginia, that dream still exists, burning in the hearts and minds of young people across the nation. Young people, i.e. first-time buyers, are scouring our neighborhoods for great deals.
And don't believe everything the media tells you about mortgages! We Realtors at Coldwell Banker www.jenniespallone.com, www.coldwellbankeronline.com have our own stable of mortgage bankers who can pre-qualify buyers in a heartbeat -- well not quite that fast -- and fit them with a mortgage to fit their needs. Most closings occur within five weeks, unless we're talking Short Sales. (Refer to my earlier blogs for that discussion.)
What do buyers want Santa to bring them for Xmas? An updated house in good condition at a great price in a good location. What do sellers want at this time of year after being on the market for several months? To sell their property at fair market value -- sellers ask Santa for more than fair market value but not all wishes get granted -- and close as quickly as possible so they can move on with their lives!
Because of these variables, I stay home for the holidays. Already I've had two closings in the last three weeks. Viva la Holiday Home Buyer and Seller! If you have real estate questions you need answered, even at this frenetic time of year, feel free to reach out to me at firstname.lastname@example.org.